Skip to content

Inside and Outside Liquidity

Best in textbook rentals since 2012!

ISBN-10: 0262518538

ISBN-13: 9780262518536

Edition: 2011

Authors: Bengt Holmstrom, Jean Tirole

List price: $35.00
Blue ribbon 30 day, 100% satisfaction guarantee!
what's this?
Rush Rewards U
Members Receive:
Carrot Coin icon
XP icon
You have reached 400 XP and carrot coins. That is the daily max!

Description:

Why do financial institutions, industrial companies, and households hold low-yieldingmoney balances, Treasury bills, and other liquid assets? When and to what extent can the state andinternational financial markets make up for a shortage of liquid assets, allowing agents to save andshare risk more effectively? These questions are at the center of all financial crises, includingthe current global one. In Inside and Outside Liquidity, leading economists BengtHolmström and Jean Tirole offer an original, unified perspective on these questions. In a slight,but important, departure from the standard theory of finance, they show how imperfect pledgeabilityof corporate income leads to a demand for…    
Customers also bought

Book details

List price: $35.00
Copyright year: 2011
Publisher: MIT Press
Publication date: 1/11/2013
Binding: Paperback
Pages: 262
Size: 6.06" wide x 9.00" long x 0.51" tall
Weight: 0.792
Language: English

Jean Tirole, the 2014 Nobel Laureate in Economics, is Scientific Director of IDEI (Institut d'Economie Industrielle), Chairman of the Board of TSE (Toulouse School of Economics), and Annual Visiting Professor of Economics at MIT.

Acknowledgments
Prologue: Motivation and Roadmap
Basics of Leverage and Liquidity
Leverage
A Simple Model of Liquidity Demand
Complete Markets
Aggregate Liquidity Shortages and Liquidity Premia
A Liquidity Asset Pricing Model (LAPM)
Public Provision of Liquidity
Public Provision of Liquidity in a Closed Economy
Liquidity Provision with Access to Global Capital Markets
Waste of Liquidity and Public Policy
Financial Muscle and Overhoarding of Liquidity
Specialized Inputs and Secondary Markets
Epilogue: Summary and Concluding Thoughts on the Subprime Crisis
Bibliography
Index